Jim Cramer Switches Tone After Praising Jack Dorsey's Block's 'Amazing Quarter': 'Pathetic Lapdog Group Of Buyers Who Will Chase It
Portfolio Pulse from Rounak Jain
Jim Cramer expressed mixed feelings about Block Inc. (NYSE:SQ) after its Q4 earnings beat, initially praising the company's performance but later criticizing the fervent buying activity. Block reported Q4 revenue of $5.77 billion, surpassing expectations and closing over 15% up on Friday. Cramer set a $100 price target for Block, despite his critique of the buying frenzy. Analysts, including JPMorgan's Tien-tsin Huang, remain bullish, highlighting Cash App's momentum and Block's focus on AI efficiency.
February 24, 2024 | 4:47 am
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Block Inc. reported a Q4 revenue beat, leading to a more than 15% stock price increase. Jim Cramer set a $100 price target but criticized the buying frenzy. Analysts remain bullish, focusing on Cash App and AI efficiency.
Block's Q4 earnings beat and the subsequent stock price increase, combined with bullish analyst sentiment and a focus on AI and Cash App, suggest a positive short-term impact. However, Cramer's critique introduces a note of caution.
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IMPORTANCE 90
RELEVANCE 100